Welcome to the CFPB Journal, your online publication for information about the Consumer Financial Protection Bureau.
If you work in financial services, you need CFPB Journal. Our team of seasoned reporters and editors brings you original coverage of the Bureau you won’t find anywhere else. Created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Federal Reserve-housed Bureau has unprecedented authority, jurisdiction and power. Follow CFPB developments, learn how others are complying with CFPB rules, and monitor general public reaction to the Bureau by checking in often with the CFPB Journal.
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Spotlight
Acting Director Russell Vought sees the agency he leads as broken and in need of facing the Congressional appropriations process. Vought outlined his support for overhauling the Consumer Financial Protection Bureau’s funding from a standalone agency July 15 during an at-times intense three-hour testimony before the House Financial Services Committee. “The bureau remains structurally defective,” …
Continue reading “CFPB Acting Director calls for Congressional funding mechanism”
News
The Consumer Financial Protection Bureau recently overhauled its consumer complaints process to cut down on alleged abuse and to increase efficiency. Changes include: Updating the CFPB’s portal manual so consumer reporting agencies have a standardized process to address complaints. Launching two-factor authentication, requiring users to verify their email address and mobile phone number when creating …
Continue reading “CFPB updates consumer complaints process”
House Democrats last month introduced a bill to strengthen the Consumer Financial Protection Bureau. Senate Republicans rejected the measures in a roll call vote as the midterm elections loomed.
The Trump administration recently asked a federal appeals court to cut the current workforce of the Consumer Financial Protection Bureau 50 percent, according to a court filing. The request to reduce the bureau’s staffing to 556 employees from 1,174 was filed April 1 in the U.S. Court of Appeals for the District of Columbia Circuit. …
Continue reading “Trump proposes 50 percent cut in CFPB workforce”
Nearly 200 Democrats and independent members of Congress recently filed an amicus brief calling on courts to stop what they see as the Trump administration’s push to dismantle the Consumer Financial Protection Bureau.
The Consumer Financial Protection Bureau and Department of Justice recently withdrew guidance warning lenders of the legal risks surrounding considering immigration status for credit.
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